Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

2. Objectives of Act

Purchase

The objectives of this Act are to facilitate broad-based black economic empowerment by—

(a)	promoting economic transformation in order to enable meaningful participation of black people in the economy;

(b)	achieving a substantial change in the racial composition of ownership and management structures and in the skilled occupations of existing and new enterprises;

(c)	increasing the extent to which communities, workers, cooperatives and other collective enterprises own and manage existing and new enterprises and increasing their access to economic activities, infrastructure and skills training;

(d)	increasing the extent to which black women own and manage existing and new enterprises, and increasing their access to economic activities, infrastructure and skills training;

(e)	promoting investment programmes that lead to broad-based and meaningful participation in the economy by black people in order to achieve sustainable development and general prosperity;

(f)	empowering rural and local communities by enabling access to economic activities, land, infrastructure, ownership and skills;

[Paragraph (f) amended by section 2(a) of Act No. 46 of 2013]

(g)	promoting access to finance for black start-ups, small, medium and micro enterprises, co-operatives and black entrepreneurs, including those in the informal business sector;

[Paragraph (g) amended by section 2(b) of Act No. 46 of 2013]

(h)	increasing effective economic participation and black owned and managed enterprises, including small, medium and micro enterprises and co-operatives and enhancing their access to financial and non-financial support.

[Paragraph (h) inserted by section 2(c) of Act No. 46 of 2013]